DOCSLIB.ORG

Department of Justice Files a Civil Antitrust Suit Challenging the Proposed Merger of the Stroh Brewery Company of Detroit, Mich

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Department of Justice Files a Civil Antitrust Suit Challenging the Proposed Merger of the Stroh Brewery Company of Detroit, Mich Department of Justice FOR IMMEDIATE RELEASE AT FRIDAY, APRIL 16, 1982 202-633-2016 The Department of Justice today filed a civil antitrust suit challenging the proposed merger of the Stroh Brewery Company of Detroit, Michigan, and the Jos. Schlitz Brewing Company of Milwaukee, Wisconsin. The Department of Justice also filed a proposed consent decree that would end the suit. Assistant Attorney General William F. Baxter said the suit and the proposed consent decree were filed simultaneously in U.S. District Court in Washington, D.C., and that the proposed decree will become final upon approval by the court. In 1981 Stroh was the nation's seventh largest brewer, operating breweries in Detroit, Michigan, and Allentown, Pennsylvania. Schlitz was the nation's third largest brewer, operating breweries in Winston-Salem, North Carolina; Memphis, Tennessee; Tampa, Florida; Longview, Texas; and Los Angeles, California. The complaint charges that the proposed merger might substantially lessen competition in the beer industry in a nine-state area in the Southeast in violation of Section 7 of the Clayton Act. The geographic market alleged in the suit consists of the states of Floridar Georgia, Kentucky, Maryland, North Carolina, South Carolina, Tennessee, Virginia, West Virginia, and the District of Columbia. (MORE) -2- In 1980 Stroh was the fifth largest brewer in that market, with approximately 6.9 percent of total beer sales, and Schlitz was third largest, with approximately 13.4 percent. The combination of the Stroh and Schlitz firms in the market described in _the complaint would have increased total seller concentration by 186 points, from 2,345.to 2,531, as measured by the Herfindahl Index. The four-firm concentration ratio of sellers in that market would have been increased by 6.9 percentage points, from 85.2 percent to 92.1 percent, by the merger. The proposed decree requires Stroh unconditionally to divest itself of the Winston-Salem plant or the Memphis plant that it will acquire in the merger with Schlitz. The divestiture must be made to a purchaser approved by the Department or by the court. Under the terms of the proposed decree, neither of the plants may be sold to Anheuser-Busch Companies, Inc. or Miller Brewing Co., the two largest brewers in the market alleged and in the nation. The proposed decree further provides that should Stroh fail to sell either plant within one year, a trustee will be appointed to accomplish the sale. Baxter also said that the Department did not find that the merger would violate the Clayton Act in the market for beer in the nation as a whole. Schlitz's shipments of beer in the United States in 1981 totalled 14.3 million barrels, -3- or about 7.8 percent of the national market. Stroh's shipments in 1981 totalled 9.1 million barrels, of which about 1 million went to Puerto Rico. Stroh's total shipments acounted for about 5 percent of industry shipments. Baxter said that Stroh's competitive position in the much smaller nine-state market alleged in the complaint was dependent upon relatively high-cost shipments from production facilities outside of that area. He said that the divestiture sought by the consent decree is the best cure that is feasible for the anticompetitive effects of the merger and also that the proposed relief is the same as the relief which the Department would have sought in a full trial. Baxter said that in a friendly merger it is almost always true, and in a non-friendly takeover it is sometimes true, that a competitive problem in a relatively small submarket can be cured prior to the merger. Where the problem can be cured, he said, the Antitrust Division will insist that it be cured prior to consummation. But in a non-friendly takeover such as this one, he said, the only practicable cure may involve assets beyond the control of the acquiring firm. In such situations the Division, to avoid creating disproportionate obstacles to unfriendly takeovers, may accept arrangements which cure the submarket problem after consummation, Baxter said. In accordance with the Antitrust Procedures and Penalties Act of 1974, a Competitive Impact Statement regarding the decree has been filed with the court. Copies of this statement and of the proposed decree are available on request in the Legal Procedure Unit, Antitrust Division, Room 7416, Department of Justice, Washington, D.C. 20530. They are also available for inspection in the Off ice of the Clerk of the U.S. District Court in Washington, D.C. Comments to the Department and to the court regarding the proposed decree are invited from members of the public within the next 60 days. They should be directed to Anthony V. Nanni, Chief, Trial Section, Antitrust Division, Department of Justice, 10th Street & Constitution Avenue, N.W., Room 3266, Washington, D.C. 20530. .
Load more

Recommended publications
  • Federal Register/Vol. 64, No. 175/Friday, September 10, 1999
    49242 Federal Register / Vol. 64, No. 175 / Friday, September 10, 1999 / Notices workers of Accord Human Resources of Stonecutter Textiles, Inc. who were Headquarters and provide sales and Florida, Inc. leased to Starke Uniform adversely affected by increased imports. marketing services for the production of Manufacturing Co., Starke, Florida. Accordingly, the Department is beer at The Stroh Brewery Company. The intent of the Department's amending the certification to cover the The intent of the Department's certification is to include all workers of workers of Stonecutter Textiles, New certification is to include all workers of Starke Uniform Manufacturing Co. York, New York. The Stroh Brewery Company adversely adversely affected by imports. The amended notice applicable to affected by increased imports of beer. The amended notice applicable to TA±W±36,062 is hereby issued as TA±W±36,224 is hereby issued as follows: The amended notice applicable to follows: TA±W±35,957 is hereby issued as All workers of Stonecutter Textiles, Inc., follows: All workers of Starke Uniform Spindale, North Carolina (TA±W±36,062) Manufacturing Co., Starke, Florida and and New York, New York (TA±W±36,062A) All workers of The Stroh Brewery leased workers of Accord Human Resources who became totally or partially separated Company, Corporate Headquarters, Detroit, of Florida, Inc., Tampa, Florida engaged in from employment on or after March 29, 1998 Michigan, including field sales workers in employment related to the production of through June 17, 2001 are eligible to apply the States cited below, who became totally or work uniforms for Starke Uniform for adjustment assistance under Section 223 partially separated from employment on or Manufacturing Co., Starke Florida who of the Trade Act of 1974.
    [Show full text]
  • 1966 SEASON Great Stars in Great Musical Shows After the Theatre
    1966 SEASON Great Stars in Great Musical Shows After the theatre ... make it a Stroh's opening night. FIRE-BREWED FLAVOR The Stroh Brewery Company, Detroit 26, Michigan We/to• to the world premiere o/11 line new Bro,tlw11y musklll ••• This evening you are having the rare fun of seeing a brand new show, a major Broadway production, being performed for the first time anywhere. This is a theatrical scoop we are proud to present on our stage. We are particularly proud that a producer of the imagination and taste of Mr. Edward Padula and a star of the stature of Mr. John Raitt have selected Cleveland and our theatre for their premiere. They will leave here to tour for ten more weeks this summer, and then open on Broadway the first week in October. As a member of the audience, you are playing an important part in this exciting new enterprise, too. It is your reaction that helps to shape and polish the show as it goes along. ' This whole evening will be a fresh experience, all new to the ear and eye. We hope you will thoroughly enjoy being in at the beginning of "A Joyful Noise." P.S. Just for fun, we're having a Do-lt-Yourself Drama Critic con­ test. Your comments on this new show are cordially invited (You need not be literary, just to the point). Only two rules: keep it under 500 words and either leave it at box office or mail it (Box 802, Cleve­ land. 44122) by June 27.
    [Show full text]
  • Complaint, United States V. Pabst Brewing Co
    UNIT~D STATES DISTRICT COURT EASTERN DISTRICT OF 1'1ISCONSIN UNITED STATES OF AMF.RICA, ) ) Plainti:.'f, ) ) v. ) CIVIL ACTION NO. 59-C 215 ) PABST BRE\HNG COMPANY, ) Filed: Octo~er 1, 1959 SCHENLEY INDUSTRIES, INC., ) THE VAL CORPORATION, ) ) Defendants. ) The United States of America, Plaintiff, by its attorneys, acting under the direction of the Attorney General of the United States, brings this Civil Action to obtain equitable relief against the above- named defendants, And complains and alleges as follows: ~URISDICTION AND VENUI~ 1. This complaint is filed and this action is instituted against the defendants under Section 15 of the Act of Congress of October 15, 1914, c. 323, 38 Stat. 736, ns nmended, entitled "An Act to supplement existing laws ngainst unlawful restraints and monopolies and for other purposes," commonly known as the Clayton Act, in order to prevent nnd restrain the violation by the defendants, as hereinafter alleged, of section 7 of said Act. 2. The defendant Pabst Brewing Company transacts business and is found within the Eastern District of Wisconsin. DEFENDANTS 3. Pabst Brewing Company (hllreinafter referred to as Pabst), is named a defendant herein. Pabst is a corporation organized and existing under the laws of the State of Delaware, with its principal office in Chicago, Illinois. 4, Schenley Industries, Inc. (hereinafter referred to as Schenley), is named a defendant herein. Schenley is a corporation organized and existing under the laws of the State of Delaware, with its principal office in New York City, New York. 5. Val Corporation (hereinafter referred to as Val) is named a defendant herein.
    [Show full text]
  • Program Book
    Master Brewers Association of the Americas 2013 Annual Conference October 23–26, 2013 • Hilton Austin • Austin, Texas PROGRAM BOOK 2013 l Confer nua enc An e October 23–26 Hilton Austin • Austin Texas, U.S.A. BIO-INNOVATION SUSTAINABLE ANSWERS UNCOMMON CONNECTIONS A BRIGHTER FUTURE Imagine a society with renewable energy and no waste. Bioinnovation can help build a world where energy, new products and other materials are made from biomass With over 700 products used in 130 instead of oil. Bioenergy, biomaterials, bio-based chemicals— countries, Novozymes’ bioinnovations these are the foundation for a bio-based society. improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. Read more at www.novozymes.com. NZNA ad 8.5x11.May2010.2.indd 1 5/13/10 10:43 AM ACKNOWLEDGMENTS Table of Contents Program Overview ....................................3 Executive Committee General Meeting Information .....................4 President: Horace G. Cunningham, 1st Vice President: Mary B. Pellettieri, Hilton Austin Floor Plan ............................5 2nd Vice President: Tom Eplett, III, Treasurer: Ruth Ellen Martin, Past President: Michael B. Sutton, Technical Director: Karl F. Ockert Thank You MBAA Sponsors ........................7 Wednesday Schedule and Highlights .........8 Board of Governors Representatives District Caribbean: Allan C. Fields; District Cincinnati: Jeremy R. Thursday Schedule and Highlights ...........10 Roza; District Eastern Canada: Jacques Seguin; District Europe: Jens Friday Schedule and Highlights ...............12 Voigt; District Michigan: John A. Mallett; District Mid-Atlantic: Walter Saturday Schedule and Highlights............14 Heeb; District Mid-South: Fred M. Scheer; District Milwaukee: Michael Scanzello; District New England: Jaime C.
    [Show full text]
  • Just for Openers Jan 2012 Issue #133
    Just For Openers Jan 2012 Issue #133 Copyright 2012 A-20-46 John Stanley Rainier PO Box 51008 Durham NC 27717 Another opener (919) 824-3046 from John Cart- Web Site: www.just-for- wright’s collection openers.org and a Nevada dis- tributor of Rainier Past Editors Beer. This is the Don Bull (1979-1983) Ed Kaye (1984-1988) only known A-20-46 Art Santen (1989-1993) Rainier fish spinner. Annual Dues $20.00 or View Free on the Web Site Use PayPal at [email protected] Renewal Due Date: 3/31/2012 Opener & Corkscrew Books ————–——Editor’s Update——-—–—— (Details in Sale Ads & On Website) Doctors finally decided I need to go “Gluten Free” which means no wheat product (that includes beer). I Flying With Openers did not test positive for Celiac’s Disease (you have a Anyone flying to the convention has two options to bring gluten problem) but the doctors thought going gluten openers. You can check them in with your luggage or carry free would help my stomach issues. After three them on. I have had no issues the last two years carrying on weeks I feel fine and have had very little stomach openers or small corkscrews (just remember NO KNIVES). discomfort. I also had a C-Diff issue (too much bad Last fall when I flew back from St. Louis, I carried on a K-6- bacteria in my system) and going gluten free has 2 Falstaff opener. The TSA Agents stopped my bag and greatly helped this issue. If I make it two months they asked me what it was.
    [Show full text]
  • Download Complaint
    UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE UNITED STATES OF AMERICA ) Antitrust Division ) Department of Justice ) Washington, D.C. 20530 ) 202/633-2417, ) ) Plaintiff, ) ) CIVIL ACTION NO. 82-750 v. ) ) FILED: November 22, 1982 G. HEILEMAN BREWING COMPANY, INC. ) 100 Harborview Plaza ) Lacrosse, Wisconsin 54601, and ) ) PABST BREWING COMPANY ) 1000 North Market Street ) Milwaukee, Wisconsin 53201, ) ) Defendants. ) COMPLAINT FOR INJUNCTIVE RELIEF (ANTITRUST) I DEFINITIONS 1. "Beer" means any fermented malt beverage containing one-half of one percent or more of alcohol by volume, brewed or produced from malt, wholly or in part, or from any substitute for malt. Beer includes lager beer, dark beer, bock beer, malt liquor and ale. 2. "HHI" means the Herfindahl-Hirschman Index, a measure of market concentration calculated by squaring the market share of each firm compet ing in the market and then summing the resulting numbers. For example, for a market consisting of four firms with s hares of 30, 30, 20, and 20 per cent, the HHI is 2600 (302 + 302 + 202 + 202 = 2600). The HHI takes into account the relative size and distribution of the firms in a market. It approaches zero when a market is occupied by a large number of firms of relatively equal size and reaches its maximum of 10,000 when a market is . - . controlled by a single firm. The HHI increases both as the number of firms in the market decreases and as the disparity in size between those firms increases. II JURISDICTION AND VENUE 3. This complaint is filed and this action is instituted against the defendants under Section 15 of the Act of Congress of October 15, 1914 (15 u.s.c.
    [Show full text]
  • A King of Beers?
    A KING OF BEERS? CONCENTRATION OF POWER OVER AMERICA’S ALCOHOL MARKETS IS BAD FOR CONSUMERS. IT ALSO IMPERILS CONSTITUTIONAL AND MORAL BALANCES. A REPORT BY THE MARKETS, ENTERPRISE, AND RESILIENCY INITIATIVE NEW AMERICA FOUNDATION December 2012 CONTENTS EXECUTIVE SUMMARY …………………………………………………………………………………………………..……..i I. A NOTE ON MARKETS AND MORALITY .…………………………………………………………………….……………1 II. THE DANGERS OF MONOPOLY ..……………………………………………………….………………………….………3 III. THE MARCH TO MONOPOLY …..……..………………………………………………………….………………………7 IV. GUTTING THE MIDDLE TIER ……..…………………………………………………………………………………….14 V. LAST CALL …………………....……..………………………………………………………………………………………23 VI. REFERENCES ……….……………………………………………..……………………………………………………….24 EXECUTIVE SUMMARY In some respects, America’s market for beer has never looked healthier. Where fewer than a hundred brewers operated a generation ago, we now can count more than 2,000, producing a mind-boggling variety of beers. Yet just below this drinkers’ paradise, we see a market that has never been more closed. Two giant firms — Anheuser-Busch Inbev and MillerCoors — now control some 90 percent of production. At the same time, a few giant retailers — led by Costco — are rolling up control over sales. This concentration is already diminishing real variety in much of the country. Worse, the giants are breaking down a decades-old regulatory regime designed to ensure local control over alcohol sales and to prevent big companies from pushing cheap alcohol onto society. These changes hurt almost all Americans. For consumers, it will become harder to get that special craft beer. For independent brewers, it will become harder to get to market and to scale up business. For society, it will become harder to control where, when, how, and to whom beer and liquor is sold, and at what price.
    [Show full text]
  • Rheingold Case
    Case Number : MKT03-02 Date: May 2003 Rheingold Beer “This is a classic brand, not a retro brand” – Tom Bendheim, CEO Rheingold Beer In early May 2003, Tom Bendheim, CEO sat in his office staring out the window at his company’s billboards at the corners of Houston Street and Avenue B in New York City’s Lower East Side. Faced with the task of trying to reinvigorate what was once “New York’s beer”, he wondered if the Rheingold brand could enjoy the same popularity it once experienced almost half a century earlier. As the newly minted CEO of Rheingold beer he was confident that he could make this brand come alive once again. He had done it with other products, why not this one? However, the beer industry was a mature, and highly competitive market. As he headed out the door to meet a prospective new client who he hoped would begin to sell Rheingold beer, Tom grappled with a number of issues, not knowing which to direct his attention to first. The History of Rheingold Beer Rheingold beer traces its roots (Exhibit 1) back to 1840 in Ludwigsburg, Germany where the company’s founder, Samuel Liebman (original spelling: Liebmann)1 founded the Liebman Brewery. In 1850, Joseph Liebman, Samuel’s eldest son, immigrated to the US to escape political persecution in Germany. Upon arrival in the US, Joseph bought a small brewery in Brooklyn, NY thus establishing a “home base” for the rest of the family when they emigrated from Germany. When the family realized that they could compete in New York’s competitive beer market, they built an even larger brewery on the corner of Forest and Bremen Street in Brooklyn.
    [Show full text]
  • SELF-REGULATION in the ALCOHOL INDUSTRY a Review of Industry Efforts to Avoid Promoting Alcohol to Underage Consumers
    A Review of Industry Efforts to Avoid Promoting Alcohol to Underage Consumers http://www.ftc.gov/reports/alcohol/alcoholreport.htm SELF-REGULATION in the ALCOHOL INDUSTRY A Review of Industry Efforts to Avoid Promoting Alcohol to Underage Consumers Federal Trade Commission September 1999 Federal Trade Commission Robert Pitofsky, Chairman Sheila F. Anthony, Commissioner Mozelle W. Thompson, Commissioner Orson Swindle, Commissioner Authors Janet M. Evans, Bureau of Consumer Protection, Division of Advertising Practices Richard F. Kelly, Bureau of Consumer Protection, Division of Advertising Practices Advisors Joseph Mulholland, Bureau of Economics Genevieve Fu, Bureau of Economics Abbe Goldstein, Bureau of Consumer Protection, Division of Advertising Practices Jeanne Sullivan, Bureau of Consumer Protection, Division of Advertising Practices Carolyn Shanoff, Bureau of Consumer Protection, Consumer and Business Education David Balto, Bureau of Competition TABLE OF CONTENTS EXECUTIVE SUMMARY I. INTRODUCTION II. ADVERTISING SELF-REGULATION The Benefits of Self-Regulation Self-Regulation in the Alcohol Industry III. ALCOHOL INDUSTRY ADVERTISING CODES Advertising Placement Advertising Content Product Placement Online Advertising College Marketing IV. CODE IMPLEMENTATION AND BEST PRACTICES Advertising Placement 1 of 22 9/17/1999 2:33 PM A Review of Industry Efforts to Avoid Promoting Alcohol to Underage Consumers http://www.ftc.gov/reports/alcohol/alcoholreport.htm Advertising Content Product Placement Online Advertising College Marketing V. CODE
    [Show full text]
  • AFD Award Winners — Page 5 Give the Lady What She Wants! Give Her Something Better- Give Her Variety Give Her Something Special
    A F D ASSOCIATED FOOD DEALERS THE FOOD DEALER "T h e M a g a z i n e f o r t h e M i c h i g a n F o o d M a r k e t " SEPT-OCT, 1969 A Creative Partnership The Faygo Beverage Company, an AFD member, recently honor­ ed its ad agency, the W. B. Doner Company, for a partnership which lasted over 30 years. Attending the ceremonies, held at the Detroit Press Club, were, left to right: Phil and Mort Fei- genson of Faygo; W. B. “Brod’’ Doner, Mike Giancotti, chair­ man of the AFD; and Harold Peary, “The Great Gildersleeve.” AFD Award Winners — Page 5 Give the lady what she wants! give her something better- give her variety give her something special - CONTINENTAL SAUCES Ready-to-serve SOUPS ...for the high quality customer! Distributed by SPECIALTY FOODS COMPANY, INC. S a r g ento CHEESE COMPANY, INC. PHONE (414) 876-3371 P a ckagers of Fine Wisconsin Chesses ELKHART LAKE, WISCONSIN 53020 Sargento Burgercheese is 100% Wisconsin Pasteurized Process American Cheese, creamy smooth, cut and sliced to fit the American Hamburger. WISCONSIN CHEESE Sargento Shredded Cheese for Pizza, the original shredded pizza cheese. Preferred Wisconsin Mozzarella Cheese, shredded to convenient curls and flavoured with Wisconsin Romano and Parmesan Cheese for the tops in eating pleasure. Sargento Cracker Snacks — Four delicious varieties of top quality Wisconsin Cheese — Cut in cracker size pieces — Packed in a handy serving tray. THE FOOD DEALER SEPT-OCT, 1969 PATRICK FOX MITCH WARMINSKI ROBERT ZAKOOR MICHAEL GEORGE WILLIAM RITTER Manufacturer Broker Broker Wholesaler Driver Salesman Stroh Brewery Co.
    [Show full text]
  • AP42 Section: Title: 9.12.1 Comments and Letters
    AP42 Section: 9.12.1 Title: Comments and letters INTEROFFICE MEMORANDUM MIDWEST RESEARCH INSTITUTE March 19, 1997 To: AP-42 Section 9.12.1, Malt Beverages, Project File From: Brian Shrager 6I-s Subject: National Emission Estimate I. Introduction . The recently published AP-42 Section 9.12.1, Malt Beverages, includes emission factors for filterable particulate matter (PM), PM-IO, PM-2.5, carbon monoxide (CO), carbon dioxide (COz), volatile organic compounds (VOC) (as ethanol), VOC (as propane), and hydrogen sulfide. Sufficient data are not currently available to estimate national emissions of CO or hydrogen sulfide from breweries. However, breweries are not expected to be significant sources of CO or hydrogen sulfide. Sufficient process information is not currently available to complete a national emission estimate for filterable PM, PM-10, and PM-2.5. If the required information is obtained, national estimates of filterable PM, PM-IO, and PM-2.5 will be completed at a later date. This memorandum presents national emission estimate for VOC and C02 emissions from breweries. The emission estimates were calculated by State, and a summation of the State estimates was used to develop the national estimates. To illustrate the emission contribution from different types of breweries, separate estimates are provided for four classes of breweries; large breweries, regional breweries, microbreweries, and brewpubs. The Brewers Resource Directory, compiled by the Institute for Brewing Studies, provides the following definitions for these four classes of breweries: Large Brewery: A brewery with sales of more than 500,000 barrels per year @bl/yr) Reeional Brewery: A brewery with a capacity to brew between 15,000 and 500,000 bbl/yr Microbrewery A brewery that produces less than 15,000 bbl/yr Brewpub: A restaurant-brewery that sells the majority of its’ beer on site 11.
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended JUNE 27, 1998 OR [_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the transition period from ..........to.......... Commission file number: 1-14092 THE BOSTON BEER COMPANY, INC. (Exact name of registrant as specified in its charter) MASSACHUSETTS 04-3284048 (State or other jurisdiction of incorporation (I.R.S. Employer or organization) Identification No.) 75 ARLINGTON STREET, BOSTON, MASSACHUSETTS (Address of principal executive offices) 02116 (Zip Code) (617) 368-5000 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No___ ----- Number of shares outstanding of each of the issuer's classes of common stock, as of July 31, 1998: CLASS A COMMON STOCK, $.01 PAR VALUE 16,385,789 CLASS B COMMON STOCK, $.01 PAR VALUE 4,107,355 (Title of each class) (Number of shares) 1 THE BOSTON BEER COMPANY, INC. FORM 10-Q QUARTERLY REPORT JUNE 27, 1998 TABLE OF CONTENTS PAGE PART I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements Consolidated Balance Sheets June 27, 1998 and December 27, 1997 3 Consolidated Statements of Operations for the Three and Six Months Ended June 27, 1998 and June 28, 1997 4 Consolidated Statements of Cash Flows for the Six Months Ended June 27, 1998 and June 28, 1997 5 Notes to Consolidated Financial Statements 6-9 Item 2.
    [Show full text]